Our tips on bulking up your savings from cashback sites to ditching the daily coffee — plus, get a free fiver from our rewards club

FLEXING your muscles with wise spending tactics is one of the best ways there is of boosting your savings.

Currently only 39 per cent of us put money aside regularly, according to website topcashback.co.uk.

Its research also found that 33 per cent of us believe it is more important to be savvy with our spending rather than saving.

But you can do both and use the £43 a month which shoppers save on average by using discounts and deals to bulk up your rainy-day money pot.

Adam Bullock, director of topcashback.co.uk, says: “It is likely people are spending wisely to make ends meet, making it tricky to put away any leftover cash.

“But if you aren’t putting money aside, the efforts of spending wisely will not build up savings and the need to make ends meet each month will only continue.”

Here Adam shares his top tips on how you can bolster your savings by spending well . . .

• When you get a discount or bargain, put the money-off difference into your savings account.
• Having a clear budget which factors in a set amount to save at the start of the month is far more effective than putting away what’s left at the end. That way you can always dip into your savings account if you really need to.
• Use a cashback website such as topcashback.co.uk which offers money back on everything from groceries and clothes to broadband and energy switching. This can save about £325 a year and can go straight into your savings.
• Overbudget regular monthly outgoings or round them up, i.e. a £26 phone bill becomes £30. Then add the difference to your savings.
• Get a piggy bank and fill it with your spare change at the end of each day or week. You’ll be surprised at how quickly the money can add up.
• If you have any bad habits, use giving them up as a means of saving. Giving up drinking coffee could leave you £3 in pocket every day. Instead of spending this, add it to your savings fund.
• Check your utility bills and if you get a cheaper deal, continue budgeting for the higher bill and bank the difference each month. It may be a small amount but the money will soon mount up.

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